Suge Knight Net Worth
Suge Knight net worth: Suge Knight is an American record executive, music producer and entrepreneur who has a net worth of $200 thousand. Suge Knight was born Marion Knight, Jr. on April 19, 1965 in Lynwood, California. His childhood nickname "Sugar Bear" gave rise to the future moniker "Suge". Suge is most for being the former CEO of Death Row Records, a company that was instrumental in bringing gangster rap to the mainstream in the 1990s. Suge and Death Row were early to sign artists such as Dr. Dre, Tupac Shakur, and Snoop Dogg. During its heyday, Death Row sold over 150 million albums around the world and generated an estimated $750 million in net revenues. Death Row Records began to fall apart after Mr. Knight was jailed on parole violations. Soon several of Death Row's most prominent artists began to leave the label, most notably Dr. Dre. When Tupac was murdered while driving in the passenger seat of a BMW in Las Vegas, Suge was in the driver's seat. Over the two decades after Death Row, Suge has had several run ins with the law. He ended up serving four years in prison on parole violations between 1997 and 2001. He was arrested again in Las Vegas on February 8, 2012 on marijuana charges. Today he serves as CEO of a new company called Black Kapital Records.
In 2002, the IRS announced that Suge owed $6.5 million in back taxes. In 2006 Suge filed for personal bankruptcy. At the time he claimed to have assets valued between zero dollars and $50,000. He also claimed to have debts totaling more than $100 million, although much of that was the result of a single $107 million judgement that was awarded to the former wife of his business partner. These debts forced Death Row to file for bankruptcy later that same year. In 2009, the assets of Death Row were sold at auction for $18 million. The winning bidder was a company called WIDEawake Entertainment Group. WIDEawake eventually was sold to a Canadian company called New Solutions Financial Corp. New Solutions Financial Corp filed for bankruptcy in 2012. Today Death Row's assets are owned by a company called Entertainment One.
Fatal Hit And Run Incident
On January 29, 2015, Suge Knight was allegedly involved in a fatal hit and run accident in Compton. The incident may have been related to a fight that took place at a movie set. Witnesses allegedly saw Suge back his truck over the victim then drive off. Suge then reportedly fled the scene and abandoned his car in a parking lot.